CHICAGO, May 7, 2024 /PRNewswire/ -- The report
"Aerospace Composites Market by Fiber Type (Glass Fiber,
Carbon Fiber, Ceramic Fiber), Matrix Type (Polymer Matrix
Composite, Metal Matrix Composite, Ceramic Matrix Composite),
Manufacturing Process, Aircraft Type, Applications & Region -
Forecast to 2029", is estimated at USD
29.1 billion in 2024 and is projected to reach USD 52.1 billion by 2029, at a CAGR of 12.3% from
2024 to 2029.
The growth of the aerospace composites market is propelled by a
range of factors, including the pursuit of fuel efficiency through
reduced aircraft weight, enhanced performance via superior
strength-to-weight ratios, and decreased maintenance needs due to
resistance to environmental degradation. Regulatory pressures for
lower emissions and advancements in material science and
manufacturing technology further drive the adoption of composites.
The flexibility in design that composites offer facilitates
aerodynamically superior aircraft structures, catering to rising
global air traffic and robust military demands. Additionally, the
industry's shift towards sustainability, seeking materials that not
only perform efficiently but also have a reduced environmental
impact throughout their lifecycle, significantly influences the
expansion of composite applications in aerospace.
Browse in-depth TOC on "Aerospace Composites Market"
440 – Tables
66 – Figures
357 –
Pages
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Glass fiber type segment is expected to grow with third
highest CAGR in aerospace composites market during the forecasted
period.
The aerospace composites market is segmented based on the fiber
types into glass fiber, carbon fiber, ceramic fiber and others.
Glass fiber composites is significant segment of the aerospace
composites market, with a growing demand due to their superior
physical properties and higher stiffness-to-density ratio. Glass
fiber composites are used in a variety of aerospace applications,
including commercial and military aircraft, rotorcraft.
cost-effectiveness, desirable mechanical properties, and
lightweight nature, making glass fiber a valuable material for
various aerospace components. Glass fiber composites offer a
cheaper alternative to carbon fiber without compromising much on
strength, durability, and weight reduction, which are crucial for
enhancing fuel efficiency and meeting environmental sustainability
goals. These factors are expected to boost growth of glass fiber
composites in aerospace composites.
Ceramic matrix segment to be the fastest-growing segment in
the global aerospace composites market in terms of value
The ceramic matrix segment is projected to register the highest
CAGR, in terms of value, during a forecast period. The adoption of
ceramic matrix composites is driven by the increasing demand for
more efficient, high-performing aircraft and the ongoing pursuit of
advancements in aerospace technology that meet stringent
environmental and performance regulations. As such, ceramic matrix
composites are becoming increasingly integral to the design and
manufacture of next-generation aerospace components, pushing the
boundaries of what's possible in high-temperature and high-stress
applications in the aerospace sector.
Resin transfer molding manufacturing process is expected to
have second largest share during forecasting period, both in terms
of value and volume during the forecast period
Resin transfer molding manufacturing process is expected to have
second largest share during forecasting period of the global
aerospace composites market. The key advantage of resin transfer
molding in aerospace applications is its ability to produce complex
molded parts with high fiber volumes and consistent quality. The
process allows for precise control over fiber placement and the
resin content, leading to parts that are strong, lightweight, and
have excellent surface finish on both sides. This level of control
and quality is crucial for aerospace components which must
withstand extreme operational conditions while maintaining
structural integrity. Resin Transfer Molding has become a preferred
method in the aerospace composites market due to its ability to
produce structurally complex and reliable components that meet the
stringent demands of the aerospace industry.
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Military aircraft to be the third fastest-growing aircraft
type segment in the global aerospace composites market in terms of
value and volume
aerospace composites in the military aircraft segment gained
significant attention driven by the demand for aircraft that are
lighter, more durable, and capable of higher performance under
extreme conditions. Composites, including carbon fiber and ceramic
matrix composites, offer critical advantages such as reduced
weight, which enhances fuel efficiency and flight range, and
improved strength and heat resistance, essential for modern
high-speed military aircraft. These materials also provide reduced
radar signatures, which is crucial for stealth capabilities. The
ongoing technological advancements in composite materials and
manufacturing processes, such as automated lay-up and resin
transfer molding, further bolster their adoption. Additionally, the
growing focus on modernizing and expanding military fleets
worldwide presents substantial opportunities for the increased use
of composites in developing new aircraft and upgrading existing
ones, aligning with global defense strategies and operational
requirements.
Asia Pacific region is
expected to register third highest CAGR both in terms of value and
volume during forecasted period
The aerospace composites market has been studied in North America, Europe, Asia
Pacific, Latin America and
Middle East and Africa.
The Asia Pacific aerospace
composites market is experiencing explosive growth, fueled by a
potent mix of factors. Soaring demand from industries like
aerospace is at the forefront, with China leading the charge. China, the world's one of the largest
aerospace composites producer and consumer, is driving the market
with its booming domestic aircraft production. This insatiable
demand for lightweight and fuel-efficient materials is propelling
the region's aerospace composites market to new heights. Countries
like Japan and South Korea, with their established aerospace
and defence industries, are also contributing significantly to the
regional market growth. Their focus on technological advancements
and sustainability goals aligns perfectly with the advantages of
aerospace composites, ensuring continued demand in the years to
come.
Key players
Prominent companies include Solvay (Belgium), Toray Industries, Inc. (Japan), Mitsubishi Chemical Group Corporation
(Japan), Hexcel Corporation (US),
Teijin Limited (Japan), SGL Carbon
(Germany), Spirit AeroSystems
(US), Materion Corporation (US), Lee Aerospace (US), General
Dynamics Corporation (US), Absolute Composites (India), FDC Composites Inc. (Canada), Avior Produits Intégrés Inc.
(Canada), Collins Aerospace (US),
Aernnova Aerospace S.A (Spain)
among others.
Browse Adjacent Market: Fibers & Composites Market
Research Reports & Consulting
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2033
Fiberglass Market - Global Forecast to
2028
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